Vedanta Ltd. announced its operational results for Q1FY’22 on 14 Jul’21. Total iron ore production for the quarter was recorded at 1.4 million tonnes (mn t), sourced entirely from its Karnataka mines. Production picked up by 53% as against 0.9 mn t in Q1 FY’21. On a quarterly basis, total output rose by 25% as compared to 1.2 mn t in Q4 FY’21.
Highlights:
- There was no production from the Goa mines due to suspension of mining pursuant to the Supreme Court judgement dated 7 Feb’18, which directed all mining companies to stop operations in Goa with effect from 16 Mar’18.
- Total iron ore sales were recorded at 1.6 mn t in Q1FY’22, up 62% against 1 mn t seen in Q1 FY’21. Major portion of the production came from its Karnataka mines at 1.3 mn t and remaining 0.4 mn t were from its Goa mines.
- On a quarterly basis, total iron ore sales dropped 25% as against 2.2 mn t in Q4FY’21.
- The company’s pig iron production stood at 202,000 tonnes (t) in Q1 FY’22, an increase of 85% y-o-y as compared to 109,000 t in Q1 FY’21. One of the major furnaces, whose relining activity was completed in Q4 FY’21 is running stable.
- Total saleable steel production in Q1 FY’22 was at 289,000 t, higher by 8% y-o-y as production was hit by Covid-19 restrictions in Q1 FY’21. In comparison to Q4 FY’21, the same was down by 9% mainly due to instabilities and hanging issues at blast furnace.
Source: Company reports
Quantity in mn t
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